Gas prices in Rochester continue to drop as Labor Day weekend approaches

ROCHESTER, NY (WHEC) – Gasoline prices in Rochester fell 10 cents this week, continuing the national trend of lower gasoline prices over Labor Day weekend.

Gas prices for Labor Day in the state and nation will be much cheaper than Memorial Day weekend prices.

Rochester prices have fallen between 7 and 10 cents every week since early July. The current average is $4.26 per gallon according to AAA. That’s significantly below Rochester’s all-time high of $4.99 a gallon, set on June 15.

Local prices are still $1.05 higher than August 2021. Statewide prices are $0.91 higher than last year and national prices are 0, $70.

News10NBC reported that gas prices are falling more slowly in New York state because much of the Northeast relies on imported oil, which is in short supply. A shortage of supply and strong demand have led to soaring prices, despite gas tax relief at the national and local levels. On the other hand, regions that can refine oil locally, such as the Midwest, have a larger supply, leading to lower prices.

RELATED: Nationally, Gas Dropped 64 Cents in One Month – So Why Only 33 Cents in Rochester?

The town in western New York where gasoline prices are falling fastest is Elmira. Prices fell 12 cents this week and 15 cents last week. Elmira’s average is $4.09 per gallon, 15 cents less than the state average. The highest prices in the region are in Watertown and Rome.

Rochester ranks near the top for the most expensive gas in Western New York. Rochester prices are slightly higher than Syracuse and 7 cents higher than Buffalo this week.

The cheapest gas in Rochester was $3.66 a gallon on Sunday while the most expensive was 10.1 cents higher, a GasBuddy survey found. Last week, that difference was $0.76. You can find the cheapest local stations via a link to GasBuddy.

New York State’s weekly average is $4.14 per gallon, which is higher than most states. New York has high prices despite state and Monroe County gas tax relief, which aims to save consumers $0.28 per gallon at the pump. The tax relief has been in effect since June 1.

News10NBC reported on a study that suggests that while consumers initially benefited from gas tax relief in New York, intermediaries and retailers eventually absorbed the gas tax. This leads to less savings for consumers.

RELATED: So Where Did the Gas Tax Savings Go? Data can have the answers

Gas prices have soared over the past year due to the rapid recovery from the pandemic which has raised demand so high that supply could not keep up. European restrictions on the import of Russian oil have also pushed up global oil prices, affecting the United States even though the United States imports very little Russian oil.

As the summer travel season is over, the demand for gasoline is decreasing, leading to continued lower prices. You can explore gas price trends on the AAA website.

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